Indian meal delivery platform Swiggy becomes unicorn with $210mn funding
Swiggy, the largest food delivery service in India, has raised $210mn in its latest round of funding. According to Live Mint, this puts the company’s total value at $1.3bn.
The funding round was reportedly led by South African internet multinational, Naspers, and Russian technology company, DST. It also included Chinese group buying web company Meituan-Dianping, which offers food delivery services, and technology hedge fund Coatue Management.
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Swiggy is now the best funded food delivery startup in India, having raised $465mn to date. Value-wise, it just beats main rival Zomato, which has a most recent reported value of $1.1bn.
CEO and co-founder Sriharsha Majety stated: “With this investment, we will continue to widen Swiggy’s offerings, along with bolstering our capabilities and plugging the gaps in the on-demand delivery ecosystem.”
Swiggy currently operates across 15 cities in India including Bengaluru, Delhi, Mumbai, Pune, Hyderabad and Kolkata.